Tata Play – Tata Son’s 1st IPO in over Two Decades

Previously known as Tata Sky, Tata Play has now received the distinction of being the first Indian company to submit all its requisite confidential IPO papers, such as the ‘pre-filed’ draft document, with the requisite regulatory bodies. Owing to regulations, until the IPO launch, the papers will not be made available for public scrutiny. 

Tata Sons owns a majority 62.2% stake in Tata Play and aims to use the primary market to raise Rs.2,500 Crores, in what is said to be the company’s first IPO in over two decades. The last such IPO held by the company was way back in 2004 when the TCS IPO was launched.

It is suggested that the Tata Play IPO will offer an amalgamation of fresh issue shares, as well as OFS (offer for sale). The remaining 37.8% stake in Tata Play is jointly held by Walt Disney and Tata Opportunities Fund. 

It is suggested that the two financial investors will exit the company, while Walt Disney will still retain a certain number of shares in the company. 

In FY22, Tata Play managed to rake in revenue worth Rs.4,741 Crores, of which its profits stood at Rs.69 Crores.

Disclaimer:

1 – This blog is exclusively for educational purposes.

2 – The securities quoted are exemplary and are not recommendatory.

3 – Such representations are not indicative of future results.

Source: Times of India